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I mean very tough paper and considering the fact this is my first time CBE. Anyway started studying for December diet
I felt I was quite fortunate with the paper I was given – there were minimal calculations to do in section 1. I’d say 80% of the exam was discursive…pretty much every standard came up, even share based payments!
Same as me, I think that knocked me off a bit to see goodwill was to be calculated in just few lines. I think for q1 hopefully I will score half the marks, the fact is all discussions makes prediction really hard. I did attempt all questions, wish I did question 4 first, in my opinion I think that is the easiest and also group accounting for this exam was significantly minimal.
Can someone write the questions please….what came up and how was it…the standards tested….and the questions requirements…in a short explaining about the scenario…please
I think I found 12,2m goodwill and na I think 70m.i don’t remember the questions
This exam was strange. The first question for 8 marks was the GW calculation and discussion about how FV method of GW appears in the FS. I think I got a GW figure of $20m with a couple adjustments to Net Assets.
That was the only element of Groups I had. Every other question in Q1 was about other standards. I had no Cashflow, Group structure questions etc, so felt a waste of learning all that! Also, no questions on IAS 19.
Leases and Revenue came up in Q1 and Q3. Bonds came up and the credit loss model. Share Based Payment question came up with the Directors receiving SAR’s and calculating them incorrectly so that needed explaining.
Q2 was weird and I did pretty awful on that. Nothing like the past paper questions whereby you discuss ethical principles from the accountant or Finance persons perspective. This was from one of the owners of the business and it didn’t say if they were ACCA qualified or not.
Overall, a tricky exam with a lot of the syllabus not examined. Q4 had 3 separate questions on APM’s!! They really should broaden the questions to cover more syllabus areas.
I will be very surprised if I pass this.
It was a very hard and unfair structured exam . So many 5 mark questions I had no time to think. The sistem didn’t work well either, I had to reboot.
Too much information and spread across in a haotic way it was too much reading to deliver an answer. Gutted
If they broaden the questions to cover more syllabus areas they will not be able to control the pass rates
It was not clear on what standard we should use. I had to do alot of guessing. I think even for goodwill was only discussion and not calculations, very confusing exam! Felt like its an SBL exam and not SBR ?
Hey everybody, how did you all do?
My exam will effectively be marked from 78 marks because I could barely attempt 2 questions (Q2b & Q3a) 🙁
I am fairly confident that I answered the rest of the exam pretty good, certainly got maximum marks on a good few questions.
Just have to hope the examiner though so too 🙂
This is my exam structure and mark allocation:
Q1
(a)
(i) Principles of Equity accounting – 4
(ii) Is equity accounting appropriate – 5
(iii) How to account for associate – 7
(b)
(i) Net assets calculation – 8
(ii) Goodwill on step acquisition – 8Q2
(a)
(i) Treatment of foreign sub HFS – 3
(ii) Ethical issues – 6+2
(b)
(i) Something about selling a drug??? – 5
(ii) Development of drug patent – 4Q3
(a) Three types of leases and how they affect EBITDA, profit before tax and the SFP (really tough!) – 13
(b)
(i) Principles of equity accounting (again!) – 4
(ii) Joint venture – 8Q4
(a) Sustainability – 8+2
(b) Impairment of non-current assets, lawsuits, write-off of raw materials – 11
(c) Share-based payment to CEO – 6Question 1 was strange and way out of style and that throwed me off the track, question 2 of the ethics was strange too and nothing like the all past paper syles but i feel like the rest of the exam was decent, very little calculation.
at least i attempted all the question and i talked my talk so am just hopeful.
Michael wrote:Hey everybody, how did you all do?
I got the exact exam and I ran out of time having not even attempt the 13 marks question. The paper was very wordy for me and a lot of time required to read questions then answer. IDK about this paper tbh so I hope I can manage to get 50 🙁
After exam, I thought I am the only one who messed up this SBR paper but it seems like everyone feels it was quite hard. No chance at all and I am looking forward to next sitting
Yeah, that 13 marker sent me into a spin! I was already reeling from the second part of Q2, something about a drug patent or whatever. Then a barage of info about leases and what effect they have on EBITDA? WHAT? Who cares??? 🙂
I just scribbled down some theory and got the hell out of there. If I fail, it will be because of that Q and I’ll feel very hard done bySame questions as yourself Michael.
Pretty similar reaction to it too.
The 13 marker on leases was really tough, I stared at it for 15 minutes, gave up and swung back around for a few attempt marks at the end.
I was really surprised at the lack of calculations needed throughout the exam and a couple of questions that seemed to be repeating themselves (equity accounting).
If I pass it will be because of a well answered question 2.
I thought question 4 wasn’t too bad either but I struggled with Q1/3.
Best of luck to all.
Yup that question was a toughy…and I use IFRS 16 in my day job!
I literally talked about how IFRS 16 allows you to capitalise the assets whereas FRS 102 requires the rental payments to be expensed…Essentially IFRS 16 improves EBITDA due to depreciation and interest rather than additional overheads.
I was literally talking out of my back side for 25 minutes…
I completely agree on the equity accounting part. Question 1 asks why its correct that its been accounted for as an associate and the principals behind equity accounting. Then question 3 basically asked the same thing again. Asking you how you account for an associate. That would’ve formed part of the part 1 answer so I didn’t understand how much more you could write without repeating yourself.
Not a single consolidated cash flow question was extremely disappointing given how big a topic it is in the syllabus and no doubt many people would’ve spent a lot of time learning how to do them.
I got exactly these same questions.. Did the first question well.. The remaining 3 questions were disaster. Couldn’t even understand what standard those questions were taken from. Expected IAS 36, IAS 37, IFRS 13, IFRS 8 and all. Nothing came.. I’m 100% sure I’ll need to resit.
My set of questions is quite strange. The question 1 only included a GW calculation with 8 marks. It is the only consolidation aspect tested. The remaining looked like a question 3 rather than question 1.
The ethics question make me confused. There is little things relating to accounting perspective. It is more relating to business aspect.
The question 4 is mainly about Additional performance measures, I thought I was resitting APM exam lol
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